Saturday, April 18, 2015

Dibrugarh University (2nd Semester - Both New Course and Old Course) - Corporate Accounting Important Questions and Answers

Corporate Accounting Selected Questions for May’ 2016 Exam
Unit 1 (Part A or B)
Part A
Q. Discuss the provisions of law with regard to redemption of Redeemable preference shares as laid down in sec.80 of the Companies Act.
Q. What do you mean by Bonus shares? Under what circumstances such shares are issued. Illustrate the SEBI guidelines regarding Bonus issue.
Q. What are the statutory books and statistical books required to be maintained by a company?
Q. Explain the SEBI’s Guidelines regarding issue of various classes of shares and forfeiture of shares.
Q. Distinguish between:
Ø  Capital reserve and reserve capital
Ø  Bonus issue and Right issue
Ø  Forfeiture of shares and Surrender of shares
Q. Write short notes on:
Ø  Oversubscription and Prorata allotment
Ø  Types of share capital
Ø  Issue of share at a discount
Ø  Issue of share at a premium
Q. Practical Problems: FOLLOW QUESTION PAPER FORM 2004 TO 2015 AS PROVIDED IN NOTES

Issue of shares (Cash book, balance sheet and various ledger accounts together with journal entries)
Right and Bonus issue: Exercise 1 to 14.
Redemption of Preference shares: Exercise: 5,6,7,8,10,12,13,14,15,16,18,21,22,23,24,29
Part B
Q. What do you mean by debentures? What are its features? State its various types.
Q. Distinguish between shares and debentures. State SEBI guidelines for issue of debentures.
Q. How a debenture can be redeemed? State its various methods.
Q. Write short notes on:
Ø  Sinking fund method of redemption of debentures
Ø  Debenture redemption reserve
Ø  Treatment of Discount on issue of shares and Loss on issue of debenture
Q. Practical Problems: FOLLOW QUESTION PAPER FORM 2004 TO 2015 AS PROVIDED IN NOTES
Debentures: Class 12 base questions are expected.

Unit 2
Q. Practical Problems: Final Account of Companies
Or
Q. What are divisible profits? Explain the provisions of Companies Act relating to transfer of profit to reserves.
Q. What is dividend and Interim divided? What are various sources of dividend? Distinguish between Interim and Final dividend.
Q. Explain the treatment of the following items whiling preparing the final account of a limited company:
a)      Advance income tax
b)      Provision for income tax
c)       Tax deducted at source
d)      Corporate dividend tax
Unit 3
Q. What is amalgamation and external reconstruction? Explain its various types with examples. Distinguish between amalgamation and absorption.
Q. Explain Amalgamation in the nature of merger and Amalgamation in the nature of purchase and distinguish between them.
Q. Explain various methods for calculating purchase consideration with examples.
Q. What is internal reconstruction? Explain its scope.
Q. Explain the various provisions of Alteration and capital reduction of share capital with examples.
Q. Write short notes on:
Ø  Pooling of Interest Method
Ø  Features of Amalgamation
Ø  Objectives of Amalgamation
Ø  Internal Vs External Reconstruction
Q. Practical Problems: FOLLOW QUESTION PAPER FORM 2004 TO 2015 AS PROVIDED IN NOTES
Amalgamation: Illustration 1 to 7 and Exercise 1 to 12
Internal Reconstruction: Complete Illustration and Exercise 1 to 6.

Unit 4
Q. What do you mean by Holding and Subsidiary Company? How would you ascertain the amount of minority interest and goodwill or capital reserve while preparing a Consolidated Balance sheet?
Q. What are the advantages and disadvantages of Holding Companies? Explain the transactions which must be eliminated while preparing consolidated balance sheet.
Q. “Balance Sheet of Holding Company to include certain particulars as to its subsidiaries”. Considering this statement Explain the provisions of Sec. 129 of the Companies Act, 1956.
Q. Explain the treatment of the following items in Consolidated Balance Sheet:
Ø  Contingent liabilities
Ø  Mutual owing
Ø  Bonus shares
Ø  Unrealised Profit
Q. Write short notes on:
Ø  Consolidated Balance Sheet
Ø  Rationale of Holding companies
Ø  Minority Interest
Ø  Cost of Control
Q. Practical Problems: FOLLOW QUESTION PAPER FORM 2004 TO 2015 AS PROVIDED IN NOTES
Illustrations:  1 to 8, 10, 11,14
Exercise: 1,2,3,4,5,6,10,12,13




Corporate Accounting Selected Questions for May’ 2016 Exam
Old Course
Unit 1
Q. Discuss the provisions of law with regard to redemption of Redeemable preference shares as laid down in sec.80 of the Companies Act.
Q. Explain the provisions of sec.81 of the Companies Act, 1956 regarding right issue of shares. What the advantages of right issue of shares?
Q. What do you mean by Bonus shares? Under what circumstances such shares are issued. Illustrate the SEBI guidelines regarding Bonus issue.
Q. What are the statutory books and statistical books required to be maintained by a company?
Q. Explain the SEBI’s Guidelines regarding issue of various classes of shares and forfeiture of shares.
Q. Distinguish between:
Ø  Capital reserve and reserve capital
Ø  Bonus issue and Right issue
Ø  Forfeiture of shares and Surrender of shares
Q. Write short notes on:
Ø  Oversubscription and Prorata allotment
Ø  Types of share capital
Ø  Issue of share at a discount
Ø  Issue of share at a premium
Q. Practical Problems: (Jain and Narang)
Issue of shares: Exercise 1,2,8,9,11,12,13,15,17,19,24,25,29,30,32
Right and Bonus issue: Exercise 1 to 14.
Redemption of Preference shares: Illustration 1,2,3,4,5,7,13,14 Exercise: 5,6,7,8,10,12,13,14,15,16,18,21,22,23,24,29

Unit 2
Q. What do you mean by debentures? What are its features? State its various types.
Q. Distinguish between shares and debentures. State SEBI guidelines for issue of debentures.
Q. How a debenture can be redeemed? State its various methods.
Q. What do you mean by buy back of shares? What the reasons are for buy back? State the legal provisions relating to buy back of shares by a company as prescribed by SEBI.
Q. Write short notes on:
Ø  Sinking fund method of redemption of debentures
Ø  Debenture redemption reserve
Ø  Treatment of Discount on issue of shares and Loss on issue of debenture
Ø  Treatment of Loss on issue of debenture
Q. Practical Problems: (Jain and Narang)
Debentures: Illustration 1 to 23 except 13, 14, 15,16,17,18
Buy Back of Shares: Illustration 1 to 8.

Unit 3
Q. What is amalgamation and external reconstruction? Explain its various types with examples. Distinguish between amalgamation and absorption.
Q. Explain Amalgamation in the nature of merger and Amalgamation in the nature of purchase and distinguish between them.
Q. Explain various methods for calculating purchase consideration with examples.
Q. What is internal reconstruction? Explain its scope.
Q. Explain the various provisions of Alteration and capital reduction of share capital with examples.
Q. Write short notes on:
Ø  Pooling of Interest Method
Ø  Features of Amalgamation
Ø  Objectives of Amalgamation
Ø  Internal Vs External Reconstruction
Ø  Dissenting Shareholders
Q. Practical Problems: (Jain and Narang)
Amalgamation: Illustration 1 to 7 and Exercise 1 to 12
Internal Reconstruction: Complete Illustration and Exercise 1 to 6.

Unit 4 – Liquidation
Q. What do you mean by winding up of a Company? Explain various modes of winding up of a company.
Q. Explain the Steps to be followed by a liquidator while preparing a liquidator’s Final Statement. Give a proforma of Liquidator’s final statement.
Q. What is Voluntary winding up of Company?  Mention the reasons and consequences of winding up.
Q. Write short notes on the following:
Ø  Preferential Creditors
Ø  “A” and “B” List of Contributories
Ø  Order of Payment followed by liquidator
Ø  Liquidator’s remuneration
Ø  Liquidation vs. Insolvency
Q. Practical problems: (Jain & Narang)
Illustrations: 5, 6,7,8,9,10,11,12
Exercise: 6,7,8,9,10,11,12,13,14,15

Unit 5
Q. What do you mean by Holding and Subsidiary Company? How would you ascertain the amount of minority interest and goodwill or capital reserve while preparing a Consolidated Balance sheet?
Q. What are the advantages and disadvantages of Holding Companies? Explain the transactions which must be eliminated while preparing consolidated balance sheet.
Q. “Balance Sheet of Holding Company to include certain particulars as to its subsidiaries”. Considering this statement Explain the provisions of Sec. 212 of the Companies Act, 1956.
Q. Explain the treatment of the following items in Consolidated Balance Sheet:
Ø  Contingent liabilities
Ø  Mutual owing
Ø  Bonus shares
Ø  Unrealised Profit
Q. Write short notes on:
Ø  Consolidated Balance Sheet
Ø  Rationale of Holding companies
Q. Practical Problems: (Jain and Narang)
Illustrations:  1 to 8, 10, 11
Exercise: 1,2,3,4,5,6,10,12,13 

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